Makes under Rs 1B turnover for three consecutive days after two years

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The bourse recorded turnovers of less than Rs One Billion for three consecutive market days to yesterday for the first time after nearly two years led by the prevailing political uncertainty.

The bourse made turnovers of Rs 822.74 million, Rs 973.91 million and Rs 981.32 million on Thursday, Friday and yesterday, where a situation like this was last seen during four consecutive market days beginning on Tuesday 21 July 2020 and ending on Friday 24 July 2020, where the bourse made turnovers of Rs 984.36 million, Rs 788.89 million, Rs 631.84 million and Rs 871.89 million, respectively, during the period Covid-19 was taking its toll on the country, where the economy suffered its highest ever contraction, shrinking by 3.6 per cent, that year.

 In related developments, the daily average turnover (DAT) of Rs 953.32 million made by the bourse in the week ended Friday (6 May) was also the lowest in nearly two years with a figure lower than this last obtained which had taken place in the week ended 24 July 2020 with a DAT of Rs 893.42 million.

Subsequently the bourse suffered a net foreign outflow (NFO) of Rs 7.1 million yesterday, increasing NFOs in the calendar year to date to Rs 1.16 billion.

Nonetheless, the bourse made pyrrhic gains at yesterday’s trading, with the ASPI and the S&P SL 20 Index increasing by 1.20 and 1.74 per cent to 7,516.63 and 2,443.05 points respectively on a Rs 981.32 million turnover and on a share volume of 47.69 million, yesterday.

By Paneetha Ameresekere